Goldman Sachs expects institutional demand for cryptocurrencies

Re-activating the cryptocurrency desk, Goldman Sachs expects institutional investors to put a significant amount of demand for digital assets

Goldman Sachs expects institutional demand for cryptocurrencies

Matt McDermott, global head of digital assets at Goldman Sachs Global Markets Division, said their survey of nearly 300 investors showed that 40 percent of those investors are currently investing in crypto assets.

"The situation is different from the Bitcoin bubble in 2017, due to the large amount of corporate demand from different industries and the interest of private banking customers," McDermottt said.

McDermott stated that their crypto desk will focus on CME Group futures in the first place, while emphasizing that US banks must deal with regulations that prevent them from trading in physical cryptocurrencies.

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